Monday, August 07, 2006
JPMorgan Cazenove to handle SUAL flotation; pre-float acquisition could be imminent – report
Story JPMorgan Cazenove is to handle the flotation of Russian aluminium group SUAL (Siberian-Urals Aluminium Company), the Sunday Times reported. According to sources said to be close to the matter, the timescale and level of fundraising have yet to be agreed, but the newspaper said the business could be worth as much as GBP 2bn (EUR 3bn).
SUAL’s controlling investors retained JPMorgan Cazenove, the report said. It added that many Russian magnates will enjoy huge profits from the transaction, including Victor Vekselberg and Len Blavatnik, as well as Brian Gilbertson, formerly chief executive of UK-listed BHP Billiton and oil firm Vedanta. Gilbertson could net GBP 50m, the report said.
Analysts believe SUAL may attempt to make a major acquisition prior to floating, the piece concluded.
SUAL’s controlling investors retained JPMorgan Cazenove, the report said. It added that many Russian magnates will enjoy huge profits from the transaction, including Victor Vekselberg and Len Blavatnik, as well as Brian Gilbertson, formerly chief executive of UK-listed BHP Billiton and oil firm Vedanta. Gilbertson could net GBP 50m, the report said.
Analysts believe SUAL may attempt to make a major acquisition prior to floating, the piece concluded.
